The financial sector faces challenges in meeting regulatory and business record-keeping requirements, given the multiplicity of regulators and the demand to retain records, not just of web transactions but also social media platforms. Regulators such as the Financial Industry Regulatory Authority (FINRA) insist that there be no compliance grace period for new technologies.It thus becomes critical for firms to have a robust records retention system for their external and internal websites and social media platforms including Twitter, YouTube, streaming media, personalization, blogs, chats, wikis, etc.Why Mindedge SolutionsWe have designed and developed compliant Web Record Retention Solutions, which have helped our clients meet regulatory record retention requirements for their various sites and social media content. The benefits are:
Ability to meet demands for regulatory compliance
Lower administrative burden in supporting the retention requirements
Ability to store, retrieve and view a web record as it was displayed to a customer
Indexed for fast retrieval providing operational efficiency in the overall system
The solution harvests our clients investment website periodically and in automated fashion. Key features include:
Configuration: To configure target URLs, tag SM&A content, define storage locations, etc.
Record capture: Capture and save web pages along with digital assets (audio, video, animated graphics, PDF, flash files)
Record versioning: For pages, assets captured in a specific download
Indexing: Extracted content is indexed and cataloged by date for future retrieval
Record retention: Captured content and assets are stored in WORM (Write Once Read Many) file storage
Record retrieval: Search and retrieve assets from storage
Software retention: Allows association of file type list with native software packages
The Content Capture & Retention solution is based on NET, MS SQL Server and Iris proprietary utilities.